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Zuora (NYSE:ZUO) Updates FY 2023 Earnings Guidance

Financial News Live · Sep 14, 2022 14:22

Zuora (NYSE:ZUO – Get Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided earnings per share guidance of -$0.18–$0.14 for the period, compared to the consensus earnings per share estimate of -$0.16. The company issued revenue guidance of $394.00 million-$400.00 million, compared to the consensus revenue estimate of $402.82 million. Zuora also updated its Q3 2023 guidance to -$0.06–$0.05 EPS.

Zuora Trading Up 0.4 %

Zuora stock traded up $0.03 during midday trading on Wednesday, reaching $8.08. The stock had a trading volume of 27,335 shares, compared to its average volume of 1,196,771. Zuora has a twelve month low of $7.41 and a twelve month high of $23.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.57 and a quick ratio of 2.57. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -9.25 and a beta of 1.95. The firm's fifty day simple moving average is $8.85 and its two-hundred day simple moving average is $10.86.

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Zuora (NYSE:ZUO – Get Rating) last issued its earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $98.80 million for the quarter, compared to analyst estimates of $97.54 million. Zuora had a negative net margin of 29.89% and a negative return on equity of 56.71%. The firm's revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) EPS. Equities analysts anticipate that Zuora will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZUO. Canaccord Genuity Group dropped their price objective on shares of Zuora from $23.00 to $20.00 and set a buy rating for the company in a report on Thursday, August 25th. Needham & Company LLC lowered their target price on Zuora from $24.00 to $15.00 and set a buy rating on the stock in a research note on Thursday, August 25th. Finally, Craig Hallum lowered their price objective on Zuora from $22.00 to $16.00 in a research note on Thursday, August 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Zuora currently has an average rating of Moderate Buy and an average price target of $19.17.

Insider Buying and Selling

In other Zuora news, CRO Robert J. Traube sold 21,626 shares of the business's stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $8.93, for a total transaction of $193,120.18. Following the sale, the executive now owns 59,223 shares in the company, valued at approximately $528,861.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Zuora news, CFO Todd Mcelhatton sold 18,136 shares of Zuora stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $8.93, for a total value of $161,954.48. Following the sale, the chief financial officer now owns 89,185 shares of the company's stock, valued at approximately $796,422.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Robert J. Traube sold 21,626 shares of the company's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $8.93, for a total value of $193,120.18. Following the completion of the sale, the executive now directly owns 59,223 shares in the company, valued at approximately $528,861.39. The disclosure for this sale can be found here. In the last three months, insiders sold 93,483 shares of company stock valued at $840,478. Insiders own 9.08% of the company's stock.

Institutional Trading of Zuora

Several large investors have recently added to or reduced their stakes in ZUO. BlackRock Inc. boosted its holdings in Zuora by 1.5% during the first quarter. BlackRock Inc. now owns 8,274,224 shares of the company's stock worth $123,948,000 after buying an additional 125,301 shares in the last quarter. State Street Corp lifted its position in shares of Zuora by 1.6% during the 2nd quarter. State Street Corp now owns 2,433,911 shares of the company's stock worth $21,784,000 after buying an additional 37,913 shares during the period. Millennium Management LLC increased its holdings in Zuora by 63.4% during the 2nd quarter. Millennium Management LLC now owns 2,342,112 shares of the company's stock valued at $20,962,000 after purchasing an additional 908,890 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Zuora by 1,567.1% during the first quarter. First Trust Advisors LP now owns 2,204,905 shares of the company's stock worth $33,029,000 after purchasing an additional 2,072,643 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Zuora by 81.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,866,739 shares of the company's stock worth $27,964,000 after acquiring an additional 838,243 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.

Zuora Company Profile

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Zuora, Inc, together with its subsidiaries, provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an orchestration engine that allows customers quote-to-revenue operations.